Economics: Property Rights

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Presentation transcript:

Economics: Property Rights Ms. Berry Social Studies 7th grade

Warm up: What is the difference between the two types of economic systems: Communism and Capitalism? What type of economic system does the US use?

Property Rights What are the property rights for each economic system? Fill in the chart

Traditional Anyone can have a small farm/house Must build and work on own (no currency)

Feudalism Property is owned by upper class Passed down Lower class works for upper class

Capitalism People can have as much property as they can afford ($)

Socialism Everyone has equal amount of property Divided equally

Communism Government gives property to people to use People cannot own property

Problems with Property Rights What are the problems with each economic system? Is it fair or unfair? Fill in the chart

Review ! You have a quiz tomorrow 9 Systems of Government 5 Economic Systems Theory Identification Problems with Property Rights Flash Cards / White boards- quiz one another